Array Applied sciences, Inc. ARRY shares are buying and selling decrease Wednesday after the corporate reported worse-than-expected third-quarter income outcomes and issued full 12 months income steerage beneath estimates.
What To Know:
Array Applied sciences reported quarterly earnings of $0.21 per share, beating the analyst consensus estimate of 12 cents by 75% and representing a 16.67% improve over earnings of 18 cents per share from the identical interval final 12 months.
The corporate reported quarterly gross sales of $350.44 million, lacking the analyst consensus estimate of $371.14 million by 5.58% and representing a 31.96% % lower over gross sales of $515.02 million the identical interval final 12 months.
On Wednesday, Goldman Sachs analyst Brian Lee maintained Array Applied sciences with a Purchase and lowered the worth goal from $36 to $31.
Shares of ARRY are falling on heavy buying and selling quantity. Based on knowledge from Benzinga Professional, greater than 13.75 million shares have been traded within the session, in comparison with the inventory’s 100-day common of 5.034 million shares.
Array Applied sciences shares have garnered vital quick curiosity with 12.91% of accessible shares being bought quick.
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ARRY Value Motion: Based on Benzinga Professional, Array Applied sciences shares are down by greater than 17% at $15.00 on the time of publication.
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